Vancouver, BC / ACCESSWIRE / May 14, 2014
/ Doubleview Capital
Corp. ("Doubleview") (TSX-V: DBV) is pleased to announce assay
results from the Company's 2014 diamond drilling program on its
3561 hectare Hat Property located in the Sheslay Valley of the
Stikine Mining District of British Columbia. Of particular
significance are assays from Drill Hole H11 that intersected 451m
(1480 ft) with 0.33% CuEq including 51.82m (170 ft) with 0.64% CuEq
and from DH H12 that intersected 243m (797 ft) with 0.33% CuEq
including 94m (308 ft) with 0.60% CuEq. Drilling also intersected
elevated and possibly important gold values, including in DH H12
one meter with 5.92 g/t Au at 199m and one meter with 8.04 g/t Au
at 299m depth.
Assays are uncut, length-weighted average
values. True widths are unknown.
Doubleview's management and consultants
believe that Drill Hole H12 from 146m to 436m depth passed through
the top section of a syeno-gabbro intrusion (the "Sheslay Red
Stock") that is host to the strong zone of copper and gold
mineralization that also was recognized in 2013 drill holes. The
Sheslay Red Stock has not previously been recognized in the
District.
Doubleview in future will refer to
geophysical "Anomaly B" that includes the Sheslay Red Stock
mineralization as the "Lisle Zone" in recognition of Mr. Tom
Lisle's more than 30 years of prospecting and other exploration
activities in the Sheslay District, including the discovery of the
Dick Creek copper zone (aka Star zone) now being explored by
Prosper Gold. Now retired, Mr. Lisle is a co-vendor of the Hat
Property. His dedication and inspired efforts are directly
responsible for generating the current interest that makes the
Sheslay District the most active mineral exploration scene in
British Columbia.
Drilling commenced on March 27 and continued
to April 29, 2014. 1588.8 metres were drilled in five holes: H11,
H12, H13, H14 and H15. The complete drilling outfit remains on the
property.
[Note that Hole H11 that was suspended at
depth 314.11 metres in November, 2013 was re-entered and deepened
to final depth of 463.10 metres.] Total drilling on the Hat
Property since commencement in May, 2013 is now 4169.1 metres in 15
drill holes.
Quality Assurance and
Control
Following examination by Doubleview's
technical staff, cores were halved by use of diamond-blade equipped
saws: one half was forwarded to an internationally accredited
analytical laboratory, being ALS Minerals (ALS Canada Ltd.) in
North Vancouver, BC, and one half was retained in the field for
future reference. Appropriate QA/QC protocols were observed both in
the field and in the laboratory. In the lab 762 samples, including
core, duplicate and standard samples, were weighed then processed
by crushing and pulverizing, followed by four acid digestion and
induced coupled plasma-atomic emission spectrometry (ICP-AES)
determination of 33 elements. Gold values for 50 gram portions of
all samples were determined by fire assay with atomic absorption
finish. Of the 762 samples, 715 were core samples and 47 were
standard or prep duplicate samples. Independently the laboratory
also provided QC Certificates of Analysis for standard, blank,
duplicate and prep duplicate samples.
Drill hole data are summarized in Table
1.
-----------------------------------------------------------
|Drill Hole|East |North |Elevation|Azimuth|Dip|Length|
|---------------------------------------------------------|
|H11 |347,852|6,454,300|1,006 |180 |-55|463.10|
|---------------------------------------------------------|
|H12 |347,700|6,454,250|980 |180 |-65|548.00|
|---------------------------------------------------------|
|H13 |347,700|6,454,250|980 |0 |-80|350.00|
|---------------------------------------------------------|
|H14 |345,770|6,454,890|1,057 |180 |-45|336.80|
|---------------------------------------------------------|
|H15 |346,100|6,454,310|1,081 |0 |-45|208.79|
-----------------------------------------------------------
Table 1. Drill Hole Location
Data
Doubleview has received complete analytical
and drill hole data from the April 2014 drilling. Highlights are
presented in Table 2.
------------------------------------------------------------------
|DDH |From(m)|To(m) |Length(m)|Cu(%)|Au(g/t)|Ag(g/t)|CuEq(%)|
|----------------------------------------------------------------|
|H11 |12 |463.11|451.11 |0.22 |0.17 |0.59 |0.33 |
|----------------------------------------------------------------|
|Including|12 |111.86|99.86 |0.29 |0.19 |1.38 |0.42 |
|----------------------------------------------------------------|
|Including|258.15 |337.11|78.96 |0.33 |0.26 |1.18 |0.49 |
|----------------------------------------------------------------|
|Including|258.15 |309.97|51.82 |0.42 |0.34 |1.56 |0.64 |
|----------------------------------------------------------------|
|Including|261.2 |409.11|147.91 |0.32 |0.24 |0.59 |0.47 |
|----------------------------------------------------------------|
| | | | | | | | |
|----------------------------------------------------------------|
|H12 |151 |434 |283 |0.18 |0.21 |0.25 |0.31 |
|----------------------------------------------------------------|
|Including|188 |434 |246 |0.20 |0.23 |0.26 |0.35 |
|----------------------------------------------------------------|
|Including|266 |376 |110 |0.31 |0.38 |0.39 |0.54 |
|----------------------------------------------------------------|
|Including|266 |360 |94 |0.34 |0.43 |0.46 |0.60 |
|----------------------------------------------------------------|
|Including|298 |300 |2 |2.26 |4.53 |3.50 |5.03 |
|----------------------------------------------------------------|
| | | | | | | | |
|----------------------------------------------------------------|
|H13 |92 |152 |60 |0.24 |0.12 |0.70 |0.32 |
|----------------------------------------------------------------|
|Including|140 |152 |12 |0.75 |0.29 |2.75 |0.95 |
|----------------------------------------------------------------|
|H13 |236 |320 |84 |0.18 |0.14 |0.25 |0.27 |
|----------------------------------------------------------------|
|Including|272 |320 |48 |0.21 |0.20 |0.31 |0.34 |
|----------------------------------------------------------------|
|H13 |330 |340 |10 |0.13 |0.10 |0.60 |0.20 |
|----------------------------------------------------------------|
| | | | | | | | |
|----------------------------------------------------------------|
|H14 |174 |268 |94 |0.08 |0.03 |0.09 |0.10 |
|----------------------------------------------------------------|
|Including|242 |268 |26 |0.21 |0.08 |0.23 |0.26 |
|----------------------------------------------------------------|
|Including|242 |246 |4 |0.36 |0.08 |0.50 |0.41 |
|----------------------------------------------------------------|
|Including|262 |268 |6 |0.62 |0.27 |0.67 |0.79 |
|----------------------------------------------------------------|
| | | | | | | | |
|----------------------------------------------------------------|
|H15 |2.8 |4 |1.2 |0.30 |0.20 |0.00 |0.42 |
------------------------------------------------------------------
Table 2. Summary of
Significant Assay Data (Widths are drill hole lengths and true
widths cannot be determined from the data and information currently
available.)
**The % copper equivalent estimate was based
on copper, gold and silver values and metal prices and does not
make any provision for metallurgical recoveries for the metals. The
formula used to calculate copper equivalent values is:
%CuEq
= [Cu% + (Au g/t*0.60478) + (Ag
g/t*0.00911]: using metal prices as of 13/05/2014. Silver values
are only included for samples analysed by four-acid
digestion/ICP-ES preparation method with detection limit of 1 ppm
Ag.
Caution: There are no mineral resources or
mineral reserves on any part of the Hat Property and there is no
certainty that any part of the identified copper-gold
mineralization will ever be converted to such resources or
reserves.
DISCUSSION
Drilling - Lisle Zone ("B"
Zone)
The recently completed drill program was
designed (1) to extend the previously identified zone of
copper-gold mineralization related to chargeability anomaly "B"
(aka the Lisle Zone) and (2) to initiate drilling of the so-called
"Anomaly C" located approximately 2.5 km west of "B".
As
reported in News Release dated January 20, 2014, drill hole H11
returned 313.3 metres with 0.22% copper and 0.18g/tonne gold (0.32%
copper equivalent). In April, 2014 drill hole H11 was re-entered at
depth 313.3 metres and extended to final depth 463.1 metres. The
thickness of the previously reported intersection was extended to
451 metres with 0.22% copper, 0.17 g/tonne gold and 0.59 g/tonne silver (0.33%
CuEq).
Drill hole H-12, collared 152 metres west and
50 metres south of hole H11, was inclined at -60 degrees to the
south and returned several intervals with copper-gold
mineralization, including from 188 to 434 metres, 246 metres, with
0.20% copper, 0.23 g/tonne gold and 0.26 g/tonne silver (0.35% CuEq). The
mineralization is interpreted as the west continuation of the
Anomaly B, Lisle Zone first recognized in H8 and H11.
Drill hole H13, inclined at -80 degrees to
the north, also drilled several sections of copper-gold
mineralization, including from 92 to 152 metres, 60 metres, with
0.24% copper, 0.12 g/tonnes gold and 0.70 g/tonne silver (0.32%
CuEq).
The "Lisle zone" mineralization now has been
found from Hole H6 (2013 drilling) to Hole H8, a distance of 958
metres and is "open" to extension in all directions. Doubleview
believes that "Lisle" zone mineralization represents a very
important new discovery with the potential, on the basis of
technical data (geochemistry, geology and geophysics) and diamond
drilling, to become a significant addition to the overall mineral
inventory of the Stikine district of northwest B. C.
Anomaly C
Following completion of drill hole H13,
Doubleview initiated diamond drill testing of the "Anomaly C" area
where technical surveys indicated an environment similar to that
found at Anomaly B, including copper in outcrops and soils, and
strongly anomalous chargeability. Drill hole H14, drilled southerly
at -45 degrees, with total length 336.8 metres, encountered
copper-gold mineralization throughout, averaging from 174 to 268
metres, 94 metres with 0.08% copper and 0.03 g/tonne gold,
including a 26 metre section, from 242 to 268 metres, that averaged 0.21% copper and
0.08g/tonne gold. Drill hole H15, inclined northerly at -45 degrees
to total length 208.8 metres, returned 1.2 metres with 0.30% copper
and 0.20 g/tonne gold.
Interpretation of drill hole analytical and
other data from holes H14 and H15 appears to indicate that Anomaly
C geology and mineralization is similar to that found at Anomaly B,
and may be a continuation of the Lisle ("B") Zone. That possibility
will be investigated later this year by further geophysical surveys
and drilling. The total distance between the collars of drill holes
H08 (Anomaly B) and H14 (Anomaly C) is 2.5 km.
Hoey Zone
The historic Hoey mineral zone that lies 2 km
southeast of drill hole H08 has geologic characteristics similar to
the Anomaly B zone but has not been investigated by
Doubleview.
Anomaly E
Anomaly E, a strong geochemical and
chargeability anomaly situated 500 metres north of the Lisle Zone,
has not been investigated by Doubleview.
Logistics -
Northwest British Columbia
Northwest British Columbia is currently the
scene of much mineral-related exploration and development, with one
mine in start-up (Imperial Metal's Red-Chris deposit), and several
advanced staged projects in the permitting phase, including
Teck/Novacopper's Galore Creek deposit, Teck/Copper Fox's Schaft
Creek deposit, Pretivm, Seabridge, and a large number of earlier-stage exploration
projects, most of which are, like the Hat Property, located close
to or in the geologically favourable transition zone from the Coast
Intrusions to the Intermontane Physiographic province. The area is
served by Highway 37, a provincial highway, and the Northwest
Transmission Line that will connect to the provincial power grid,
is nearing completion.
Despite the fact that all Hat Property work
requires costly helicopter support, Doubleview has achieved total
drilling costs comparable to those found elsewhere in British
Columbia. Local communities are a source of capable employees and
the Doubleview benefits from access to supportive businesses and
services available in the town of Smithers. Dease Lake, located 95
km northeast of the Hat Property, population 350, provides
logistical support, health care and other services.
The Hat Project is fully permitted and the
Company is working closely with local contractors and stakeholders
with a view to resuming property work in June 2014.
Doubleview holds an option to acquire 100%
interest in the Hat Project.
Erik A. Ostensoe, P. Geo, a
consulting geologist, is Doubleview's Qualified Person as defined
by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects, with respect to the Hat Project and has reviewed,
approved and verified the technical disclosure of this news
release. Mr. Ostensoe is not independent of Doubleview as he is a
shareholder and is a co-optionor of the Hat Project.
About Doubleview Capital
Corp.
Doubleview Capital Corp. is a Canadian
resource exploration and development company located in Vancouver,
British Columbia that is publicly traded on the TSX-Venture
Exchange with the symbol TSX-V:DBV.
Doubleview identifies, acquires and finances
quality precious and base metal exploration and mining projects in
North America and more specifically British Columbia, Canada.
Doubleview's objective is to increase shareholder value through
strategic and quality Gold, Copper and Silver project acquisitions,
followed by application of advanced, state of the art, exploration
methods.
On behalf of the Board of
Directors,
Farshad Shirvani, President
& Chief Executive Officer
For
further information please contact:
Doubleview Capital
Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
T: (604) 678-9587
E: corporate@doubleview.ca
Farshad Shirvani, President &
CEO
Forward-Looking Statements
Information set forth in this news
release contains forward-looking statements that are based on
assumptions as of the date of this news release. These statements
reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance.
Doubleview cautions that all forward looking statements are
inherently uncertain and that actual performance may be affected by
a number of material factors, many of which are beyond Doubleview's
control. Such factors include, among other things: risks and
uncertainties relating to Doubleview's current exploration and
drilling activities, limited operating history and the need to
comply with environmental and governmental regulations.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking
information. Except as required under applicable securities
legislation, Doubleview undertakes no obligation to publicly update
or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
SOURCE: Doubleview Capital Corp.
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